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PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED

Unaudited Financial Statements

for the Year Ended 28th February 2023






PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED

Company Information
for the year ended 28th February 2023







DIRECTOR: T Y Price





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 06811572 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,708 13,138

CURRENT ASSETS
Stocks 5,000 8,350
Debtors 5 33,329 23,811
Cash at bank 16,738 769
55,067 32,930
CREDITORS
Amounts falling due within one year 6 38,325 24,894
NET CURRENT ASSETS 16,742 8,036
TOTAL ASSETS LESS CURRENT LIABILITIES 46,450 21,174

CREDITORS
Amounts falling due after more than one
year

7

(45,022

)

(19,067

)

PROVISIONS FOR LIABILITIES (591 ) (2,627 )
NET ASSETS/(LIABILITIES) 837 (520 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (163 ) (1,520 )
SHAREHOLDERS' FUNDS 837 (520 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Balance Sheet - continued
28th February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st February 2024 and were signed by:





T Y Price - Director


PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

Peninsular Developments North West Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st March 2022 2,403 16,003 7,773 26,179
Additions - 38,000 474 38,474
Disposals - (16,003 ) - (16,003 )
At 28th February 2023 2,403 38,000 8,247 48,650
DEPRECIATION
At 1st March 2022 2,030 4,001 7,010 13,041
Charge for year 93 9,500 309 9,902
Eliminated on disposal - (4,001 ) - (4,001 )
At 28th February 2023 2,123 9,500 7,319 18,942
NET BOOK VALUE
At 28th February 2023 280 28,500 928 29,708
At 28th February 2022 373 12,002 763 13,138

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st March 2022 1
Disposals (1 )
At 28th February 2023 -
NET BOOK VALUE
At 28th February 2023 -
At 28th February 2022 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,381
Other debtors 33,329 22,430
33,329 23,811

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 2
Hire purchase contracts 6,420 -
Trade creditors 14,015 14,207
Taxation and social security 14,228 8,033
Other creditors 3,662 2,652
38,325 24,894

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,667 19,067
Hire purchase contracts 30,355 -
45,022 19,067

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2023 and 28th February 2022:

2023 2022
£    £   
T Y Price
Balance outstanding at start of year 16,968 23,305
Amounts advanced 39,296 25,802
Amounts repaid (21,070 ) (32,139 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,194 16,968